German Automaker Daimler Plans to Use Blockchain to Turn Corporate Data Into Profit

Neues Mercedes-Benz Research & Development North America, Inc. Headquarter in Sunnyvale, Kalifornien New Mercedes-Benz Research & Development North America, Inc. headquarters at Sunnyvale, California

Daimler, a German car manufacturer and parent company of Mercedes, is preparing to apply blockchain technology, hoping to release the value of data generated during business operations. At the same time, management hopes that this plan can help develop into a data-driven company, establish a secure and reliable enterprise-level data market, and make enterprise data profitable.

Singapore-based blockchain company Ocean Protocol announced yesterday that it has completed a proof-of-concept procedure with Daimler to enable the depot and supply chain to start turning corporate data into profitability. The cooperation plan involves Daimler’s headquarters in Germany and the production base in Singapore, hoping to explore a decentralized way to share internal sales, finance, and business data between multinational production bases and external suppliers.

Daimler Technology Vice President Hartmut Mueller said in a press release that the company believes that blockchain can allow data to release its potential value in a decentralized manner. At the same time, when Daimler marched in the direction of data companies, through the cooperation with Ocean Protocol, it provided a secure enterprise-level data market. Both car manufacturers and suppliers understand the value of these corporate data, such as onboard sensors and passenger data, which can help car manufacturers compete with other companies in the industry and research products that are more suitable for the market.

Ocean Protocol founder Bruce Pon said that large companies spend about $300 million annually on coordinating software, security measures, and different management, but the data sharing model can greatly reduce costs. He worked in Daimler’s information technology department for 5 years and believed that blockchain could transform the company’s information technology system from an expense center to a profit center.